CBN Leaves Monetary Policy Rate Unchanged at 14%

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The Monetary Policy Committee of the Central Bank of Nigeria on Tuesday left the Monetary Policy Rate unchanged at 14 percent.

The CBN governor, Godwin Emefiele who announced the decision of the committee at the end of a two-day meeting held at the apex bank’s headquarters in Abuja explained that the six members of the committee agreed to maintain the current monetary policy stance.

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He, however, said that two members voted to ease monetary policy rate.

Emefiele said apart from the MPR which was retained at 14 percent, the committee also retained the Cash Reserves Ratio at 22.5 per cent.

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Also retained are the Liquidity Ratio which was left at 30 per cent; and the Asymmetric Window which was left at +200 and -500 basis points around the MPR.

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